TransContainer Establishes Subsidiary in China
TransContainer establishes a subsidiary company, TransContainer Freight Forwarding (Shanghai) Co., Ltd in the People’s Republic of China, in the Pilot Free Trade Area of Shanghai. Such resolution was made by the Company’s Board of Directors in February 2017.
Today, on October 10, the presentation of TransContainer Freight Forwarding (Shanghai) Co., Ltd was held in Shanghai, after which the Company officially commenced its operations and business. Shanghai is the world’s biggest logistics center, with a premium railway and marine infrastructure, direct access to the Chinese market with its highly developed industrial production segments. PJSC TransContainer believes that establishment of a 100% subsidiary in Shanghai will enable to improve customer services and expand the range of rendered services in international intermodal container transportation in China-Russia traffic.
PJSC TransContainer is the first Russian logistics company to have registered a subsidiary in Shanghai’s Pilot Free Trade Area.
The Strategic Cooperation Memorandum between PJSC TransContainer, COSCO Shipping LinesCo. Ltd. and Dalian Port (PDA) Company Ltd. was also signed as part of the opening ceremony. According to the Memo, the parties intend to facilitate the creation of a large international transport and logistics corridor connecting Asia Pacific and European countries via the Port of Dalian and the land-based border crossing point between China and Russia Zabaikalsk-Manchuria, including comprehensive development of international multi-modal transportation using the rail and marine transport. In addition, the parties will look into the opportunities to jointly develop the Vorsino transportation and logistics hub.